Know your budget
Secure your car loan before you start shopping for a vehicle. You'll have a better sense of which cars you can realistically afford once you know your car-buying budget.
Research before you buy
Read up on the insurance rankings, safety features, and security add-ons associated with any vehicle you're interested in before you buy it. If you're looking at a used car, use the vehicle identification number (VIN) to check the car's history and to find out if it's been in any reported accidents.
Find out if you qualify for an HST tax credit
New Brunswick families and individuals with an annual income of $35,000 or less may qualify for a full HST credit. If you're eligible, you'll receive your first tax credit payment in October 2016. Factor this credit into your monthly budget if you plan on buying a new or used car soon.
Go for a test drive
Always take a car for a test drive before you purchase it. And don't be shy. Drive the vehicle at different speeds and on a variety of roads.
Understand your total financing costs
To calculate the actual cost of your new or used vehicle, consider your loan amount, what interest rate the dealer is offering, and how long your loan term is. Remember: you pay more interest on a longer car loan, and your car depreciates in value as the years go by.